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Problem solving When something creates a problem, the performance or the status quo of the situation drops. Problem-solving deals with finding out what caused the problem and then figuring out ways to fix the problem. The objective is to get the situation to where it should be.
The reason for this is the simple fact that vertical thinking utilizes a sequential method in solving problem, where only one solution is generally realized. On the other hand, due to the non-linear nature of lateral thinking multiple solutions to the problems are fashioned in a more imaginative manner.
Gigerenzer & Gaissmaier (2011) state that sub-sets of strategy include heuristics, regression analysis, and Bayesian inference. [14]A heuristic is a strategy that ignores part of the information, with the goal of making decisions more quickly, frugally, and/or accurately than more complex methods (Gigerenzer and Gaissmaier [2011], p. 454; see also Todd et al. [2012], p. 7).
Strategic thinking is a mental or thinking process applied by individuals and within organizations in the context of achieving a goal or set of goals.. When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organization.
Strategic management processes and activities. Strategy is defined as "the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals."
The iteration of such strategies over the course of solving a problem is the "problem-solving cycle". [ 30 ] Common steps in this cycle include recognizing the problem, defining it, developing a strategy to fix it, organizing knowledge and resources available, monitoring progress, and evaluating the effectiveness of the solution.
Strategy as perspective – executing strategy based on a "theory of the business" or natural extension of the mindset or ideological perspective of the organization. [21] Complexity theorists define strategy as the unfolding of the internal and external aspects of the organization that results in actions in a socio-economic context. [22] [23] [24]
Procedural knowledge (i.e., knowledge-how) is different from descriptive knowledge (i.e., knowledge-that) in that it can be directly applied to a task. [2] [4] For instance, the procedural knowledge one uses to solve problems differs from the declarative knowledge one possesses about problem solving because this knowledge is formed by doing.